Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

Publication of bills , Publication of Bills in the England Gazette: Su...

Publication of Bills in the England Gazette: Such there order 98 which offers that no Bill shall be intract unless it has been published in the Gazette and a certain time of f

Unity and continuity of domicile, Unity and continuity of domicile Co...

Unity and continuity of domicile Conversely S.10 of the Act provides such no person may have more than one domicile at any one time and no person shall be deemed for be witho

Exceptions - authority of partners, Exceptions - Authority of Partners ...

Exceptions - Authority of Partners The rule stated is a general rule, such there are a few exceptions for it.  Hence the chief of these exceptions are as follow: like; (a)

Elements of a contract - offer, Elements of a Contract - Offer Further...

Elements of a Contract - Offer Further this is an unequivocal manifestation through one party of its intention to contract into another. So well it is a clear intimation for i

Reservation of name, Reservation of Name:                             ...

Reservation of Name:                             To obviate the risk of choosing a name that ultimately turns out to be undesirable, the promoters should enquire from the regi

Disadvantages of entrepreneurship development , Disadvantages of Entreprene...

Disadvantages of Entrepreneurship Development You will be your own boss and the boss of other people and make the decisions that are crucial to the business' success or fa

What are the advantages of doctrine of judicial precedent, What are the adv...

What are the advantages of doctrine of judicial precedent? Advantages of doctrine of judicial precedent: a. Makes it more clearly in terms of chances of winning case should

Trade and commerce, what is the importance of law enforcement and the legal...

what is the importance of law enforcement and the legal profession as service industries?

Publication of list of repeat offenders, Q. Publication of list of repeat o...

Q. Publication of list of repeat offenders ? As a part of the joint education campaign option, or separate to the education campaign, a ‘naming and shaming' approach could also

What are the main areas of case law, What are the main areas of case law? ...

What are the main areas of case law? Case law: There are two main areas, as follows: • Common law: It is an amalgamation of past cases that are used to make decision

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd